American Buttonhole, Co. v. Burlington Mutual Loan Ass'n
Supreme Court of Iowa
Appeal from, Des Moi/nes District Court. Action by a junior incumbrancer to redeem certain real estate in Des Moines county. The property at one time belonged to one Smith. He mortgaged it to the defendant. Afterward tbe plaintiff obtained two judgments against Smith, which became liens on the property. The mortgagee, the defendant in this action, foreclosed, hid in the property at tiie foreclosure sale, acquired a deed, and took possession.
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Appeal from, Des Moi/nes District Court. Action by a junior incumbrancer to redeem certain real estate in Des Moines county. The property at one time belonged to one Smith. He mortgaged it to the defendant. Afterward tbe plaintiff obtained two judgments against Smith, which became liens on the property. The mortgagee, the defendant in this action, foreclosed, hid in the property at tiie foreclosure sale, acquired a deed, and took possession. This plaintiff, though a lien-liolder prior to the commence, ment of the action for foreclosure, was not made a party. The statutory time of making…
1Opinion of the Court
Adams, J\
The general doctrine undoubtedly has been *465that a junior lien-holder has an equitable right to redeem from a mortgage debt, and that such right is not cut off by a foreclosure sale, if the junior lien-holder was not made a party to the action. In Jones on Mortgages, section 1436, the author says: “A subsequent creditor of the mortgagor having a lien upon the property should be made a party to the proceedings (for foreclosure); otherwise he may redeem after the sale.” Citing Sharpe v. Earl of Scarborough, 4 Ves., 538; Stonehewer v. Thompson, 2 Atk., 440; Blagrave v. Clunn, 2 Vern.,…
2Cases cited11 opinions
- Brainard v. . CooperNew York Court of Appeals · 1852
- Ten Eyck v. CasadSupreme Court of Iowa · 1864
- Mayer v. Farmers' BankSupreme Court of Iowa · 1876
- Heimstreet v. WinnieSupreme Court of Iowa · 1860
- Anson v. AnsonSupreme Court of Iowa · 1865
6 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- McDonald v. MillerTexas Supreme Court · 1897
- Young v. EmbleyAlaska Supreme Court · 2006
- Barr v. VanalstineIndiana Supreme Court · 1889
- Dolan v. Midland Blast Furnace Co.Supreme Court of Iowa · 1904
- Bunce v. WestSupreme Court of Iowa · 1883
4 more not listed; retrieve them via the Exa API.